Why lot of countries do not allow to use Crpto?

[Efiraboy]

the value of that currency already decreasing due to lot of international trading , after crypto come , people investing that country in bitcoin and save that money thus their funds decreasing . In India they banning crypto for reason - Decrease of rupee price , lots of scam happens , People us bitcoin as illegal trading . if people use bitcoins , its direct loss of government as they are not getting any tax on bitcoin transfers

Why US bans crypto ?
South Korea also banned
  

Different country has a different perception in bitcoin, I guess that was mostly government thinking of that people may be used bitcoin to have an illegal transaction and easy to make any action against the law of the country. And the next is they think also that bitcoin may be the big competitor against the banks near in the future and they can't control it.
Yes, it has a big effect on the local currency, because our local currency is manipulated by our government they know how much the demand and also the value of the foreign exchange.

many of the reasons they say why they are banning bitcoin circulating in their country, there are reasonable reasons for cryptocurrency fraud or can be used for crime and high risk for investors, but the main reason is the fear of these countries will be the volatility and uncertainty of digital currency.

Why would they leave there home when they can be paid more than salary Every government need tax to improve the development of their country and for this people have to use fiat which they stop using it

[1715659538]

1715659538

[satana_igor666]

Because they are afraid of losing their palm and can not influence the country, if there is bitcoin.

[burnchan]

Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?

The reasons why other countries do not accept crypto is the issue of money laundering and the use of crypto to illegal activities. In my point of view, these stuffs also exist in fiat,  so I think there has to be done aside from restricting the use of crypto.

[Sonamziv_99]

You are not amiss with your math but rather its about the security and washing stuff that may come in advance. The vast majority of the nations are worried about the possibility that that immense measure of cash may be washed with the assistance of bitcoin and in this manner it might make the unsettling influence monetary dissemination in that way. It has as of late found that numerous instances of mafia has been discovered who are really utilizing the bitcoin along these lines as it were. This is the greatest and prime motivation behind why nations are attempting to maintain a strategic distance from the undesirable utilize. They likewise need to secure the people groups finances by taking strategies, crypto counterfeit exchangers and plans and so forth.

[jaocoincrypto18]

Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?

There is no problem regarding financial aspects because they knew that Crypto currencies can be able to help their economy as they also notice the other nations who currently enjoying the benefits of having it legal. These few countries who are against crypto currencies are just to blind to see the positive aspects of Bitcoin in which they only foresee the negative aspects of it like the use of Crypto might ruin their country and might put the welfare of their people to risk.

[brkttlv]

They don't want people to use crypto currencies because that means depreciation of their national fiat money and also loose chance to get taxes. Summary they don't want to loose control of the economy.

[Rockernewf]

This complicated problem, for hundreads of years
 country roles was to emit and control money/currency and violence using monopoly.
 Today if they see someone is trying to make money that they can't control this they're scared about that.
 Country's currency it's symbol of it's power above it's habbitants.
 In this case they try to  eliminate competitor cryptocurrenices

[Masongrae]

Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?

I believe they don’t allow crypto because they don’t really know crypto. They don’t see how crypto could eventually help them in their economy. If they are able to see the great opportunities in crypto, they will grab it.

[roomboy85]

Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?

I think some country not allow to use crypto currency  because they not controlled  how much transaction happen and they cant get tax on it because its virtual currency. Also they afraid maybe some corrupt people use crypto to hide the money that they thief.

[binhvo1505]

Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?

These are the small benefits that Bitcoin brings to them. But the negative effects that bitcoin brings are many. Businesses can take advantage of this to avoid tax and money laundering very easily. Besides, Bitcoin is a high value currency but easy to manipulate. The government prohibits it in some countries is a right decision.

[Deathgamer]

Well its because of their goverment.There are alot of countries that their government do not allow bitcoin to use because they say that it is illegal because it has no tax and also they say that it is being used by terrorist and druglords in their illegal transactions.

[Usmanmuhon]

 I think  that was mostly government thinking of that people may be used bitcoin to have an illegal transaction and easy to make any action against the law of the country. they say that it is illegal because it has no tax and also they say that it is being used by terrorist and druglords in their illegal transactions.

[kolsernik]

I thought about it not so long ago.Indeed, with the help of cryptocurrency and exchange offices, the country's economy is growing and the Fiat local currency is growing in price.This should be understood by countries that prohibit cryptocurrency.

[Vritesh]

Yes, many countries do not allow the use of cryptos because they are independent and government has no say or control over them. Due to this crypto's are totally free of any control so many people take advantage of this feature and start using it for illicit or illegal purposes. So due to this reason many countries are not allowing the use of Cryptos.

[rickadone]

Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?

Simply because they are scared cryptocurrency is going to end up disrupting a lot of things and most especially the banking sector and they are busy looking for lame and flimsy excuses not to allow it. If government wants to add tax, they can do so with the exchanges and it is not like in most cases, taxes are not being deducted for transactions in the banks anyway.

I feel the only reason why they are having issues with the whole crypto thing is just as a result of the fear of the unknown. But, this cannot be a common reason for all the countries hence taxation and governing as a central authority on economics of a country are prime other reasons for not allowing as of now.

[alimatmo2019]

Because different countries with perception of their currency and acceptability of their currency value s but with no limited time average country will soon be diverted to accept Cryptocurrency just as a matter of time

[PlusOne88]

There are so many reasons why a country may not be allowing the use of cryptocurrencies,  but to sum up all, it is all about possible effects of cryptocurrencies to the economy. Imagine how easy is it to just waste money through the use of the digital currencies. For example one may just lose it online through gambling, buying things not so necessary for the time being, losing money out of being hacked and so many other things. On the personal note, I do not consider these situations as bad as one thinks and none of these reasons really matter. But even if how small is it that you lose, on a larger view, when there are too many doing it, then it will make a big difference. We should understand that any amount of digital currency misused may just be same as wasting the actual money. So every country is watching everything closely before they have to decide whether it would be good to allow it or not at all.

[rasp]

As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency.

You've got a point here.
I wish that every lawmaker would think not only about money laundering but also about the benefits crypto brings into economies.
Moreover, intense crypro-related activities testify for the well-being of the population and could be an objective indicator of the economic situation of a country as a whole.

[meerkatoken]

Lack of legal support behind crypto is a major cause for concern from governments. Govs like to control the currency. They control it through the central bank. They also like to know who has it, where it is, where it’s going. This is exactly why some govs decided to make ICOs illegal and were shutting down local crypto exchanges.
Decentralization is the archenemy of most goverment officials.

[Viranz]

Because the government does not want to take the risks that exist in bitcoin, therefore they prefer to banned bitcoin. Actually it depends on the mentality of his government also if they do not dare of course they live banned bitcoin.